Softlogic Finance to infuse Rs. 1.9Bn capital through a Rights Issue
Aug 20, 2020 (LBO) – Softlogic Finance, a subsidiary of Softlogic Capital has announced a capital infusion of Rs. 1.9 Billion by way of a Rights Issue. The …
Banking and Finance
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Sri Lanka vehicle registrations likely to slow in August due to stockouts: Report
Aug 20, 2020 (LBO) - Vehicle registrations in July were only slightly down from June but remain at healthy levels indicative of existing inventory driving …
CBSL revises down caps on interest rates on credit cards, overdrafts & pawning facilities
Aug 20, 2020 (LBO) – Considering bank lending rates of certain financial products which continue to remain high, the Central Bank has decided to revise …
Seylan Bank: Alternative Small Business Export Loan Funding Made Simple
Small and medium-sized enterprise turn into big businesses Today's start-ups are tomorrow's industry leaders, provided they can manage their early expansion in …
Opinion: Domestic payment cards drive economic and social benefits
By LankaClear Groundbreaking research carried out in five major continents across the world by Anthemis Group has found that domestic card schemes and …
Committee appointed to look into irregularities in four state banks during last 5 years
Aug 19, 2020 (LBO) – A committee has been appointed to look into the instances of irregularities and ineffective actions in the four major state banks during …
Hayleys reports PAT of Rs.561.76 million Q1 2020
Aug 18, 2020 (LBO) - The Hayleys Group remained resilient amidst unprecedented challenges to record a pre-tax profit of Rs.1.17 billion in the first quarter of …
First Capital posts PAT of Rs. 1.46bn for 1Q 20/21 on the back of strong results for FY 19/20
Aug 18, 2020 (LBO) – First Capital Holdings PLC (the Group) the only listed investment bank in Sri Lanka, continued its growth momentum into the first …
Pandemic Shock Dampens Digital Banks’ Prospects in Asia: Fitch Ratings
Aug 18, 2020 (LBO) – Aspiring digital bank entrants in Asia may struggle to attain the critical mass necessary to reach business viability amid the …
ComBank’s assets cross milestone Rs 1.5 trillion in 1H 2020
The Commercial Bank of Ceylon Group has reported mixed results for the first half of 2020, with robust top line growth negated by a combination of factors …
HNB posts Rs 5.5Bn Group PAT in 1H 2020 amid COVID-19 disruptions
Aug 17, 2020 (LBO) – HNB posted resilient financial results during the 1H 2020 amid the unprecedented disruptions of COVID-19 pandemic with Group PAT for 1H …
Sampath Bank reports PAT of Rs 3.97Bn for six months ended 30th Jun 2020
Aug 13, 2020 (LBO) - The global economy took a steep downward trend with the COVID-19 pandemic epicentre shifting from China and East Asia to the United States …
Ceylon Dollar Bond Fund gains on recovering sovereign bonds
Aug 12, 2020 (LBO) - The Covid-19 financial crisis led to a crash in Sri lanka sovereign bond prices from US 100 dollars to an all-time low of UD 48.15 …
LOLC finishes two years in succession as the most profitable conglomerate
LOLC Group (LOLC), the premier blue chip conglomerate concluded another financial year on a high note as per the results for the year ended 31st March 2020. …
Sri Lanka receives safe travels stamp from World Travel and Tourism Council
Aug 10, 2020 (LBO) - Recognising the safety protocols introduced by the Government of Sri Lanka along with standards mandated by Sri Lanka Tourism Development …
Are caveat notices strangling the condominium industry in Sri Lanka?
Kapila Gamage Attorney-at-Law and Condominium Consultant The condominium developers of Sri Lanka are being terrorized by a new kind of threat that is …
Sri Lanka’s GDP contracts by 1.6% in 1Q 2020
Aug 06, 2020 (LBO) - Sri Lanka's GDP growth rate for the first quarter of 2020 has been estimated as 1.6 percent of negative growth rate, when compared to the …
Fitch affirms Commercial Bank of Ceylon at ‘AA+(lka)’; Outlook negative
Aug 06, 2020 (LBO) - Fitch Ratings Lanka has affirmed Commercial Bank of Ceylon PLC's (CB) National Long-Term Rating at 'AA+(lka)'. The Outlook remains …
Sri Lanka’s Seylan Bank to issue listed debentures
Jul 30, 2020 (LBO) – Sri Lanka’s Seylan Bank is to issue two types of listed debentures, the bank said in a stock exchange filing. The bank at a meeting …
Nations Trust Bank American Express ties up with PickMe
Nations Trust Bank American Express joins hands with PickMe, Sri Lanka’s leading mobility solutions provider, to provide convenient and cashless payment …